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Sayona Mining raised cash through flow-through shares for its Quebec exploration project

Canada's planned capital gains tax hike may choke mining startups, dealmakers say

Published: 23 Apr 24

Canada's capital gains tax hike for wealthy individuals and corporations in last week's federal budget risks turning away investments from mineral exploration by reducing incentives, the country's leading stock exchange operator and dealmakers told Reuters. Prime Minister Justin Trudeau's Liberal government proposed increasing the share of capital gains subject to taxation to two-thirds for individuals with annual investment profits greater than C$250 000, companies and trusts, as it seeks to raise revenue to fund public programs.

Copper demand to boom as new technology drives power consumption, Trafigura says

Published: 22 Apr 24

Flourishing activity in the electric vehicle, power infrastructure, AI and automation sectors will lead to at least 10-million metric tons of additional copper consumption over the next decade, commodity trader Trafigura told Reuters. Technological developments such as artificial intelligence and automation, and the energy transition, which includes electric vehicles and renewable energy, have already driven up demand prospects for copper cable used to conduct electricity.

Boliden, Epiroc and ABB deploy first battery-electric truck trolley system for underground mining

Published: 22 Apr 24

Swedish metals maker Boliden, technology company ABB and original-equipment manufacturer Epiroc have successfully deployed the first fully battery-electric truck trolley system on an 800-m-long underground mine test track in Sweden, with a 13% incline. ABB says the achievement of the collaboration in Boliden’s Kristineberg mine, in northern Sweden, marks a critical moment for the mining industry as it continues to face rising pressures to balance increased outputs of critical minerals and metals with lower carbon emissions and energy use.

Tabula launches ESG-focused exchange-traded commodity

Published: 22 Apr 24

European exchange-traded fund provider Tabula Investment Management has launched an environmental, social and governance- (ESG-) focused physical gold exchange-traded commodity (ETC), the single mine origin (SMO) physical gold ETC called BARS. Tabula says the BARS is the first exchange-traded physical gold product to offer full traceability of gold bars from mine to vault, using a small number of named mines adhering to high ESG standards.

M&R’s TNT awarded EPC contract in South America

Published: 22 Apr 24

JSE-listed Murray & Roberts (M&R) has announced that Terra Nova Technologies (TNT), in joint venture with Ingeniería y Construcción Sigdo Koppers, has been awarded an engineering, procurement and construction (EPC) contract with a large copper producer for a mine in South America. The contract value is about $200-million, with TNT’s share in the joint venture being 51%.

Electricity Minister Kgosientsho Ramokgopa

Ramokgopa describes IPP surpluses as low-hanging fruit amid delay in finding contractual solution

Published: 22 Apr 24

Electricity Minister Kgosientsho Ramokgopa describes surplus electricity arising from existing renewable energy facilities as “low hanging fruit” in improving the supply-demand balance and reports that discussions are under way to assess ways to make this energy available to the grid. Speaking during a regular update on the Energy Action Plan, Ramokgopa confirmed that the issue, which had been under consideration for years, had again been raised with him by the leadership of Scatec during his recent visit to the group’s Kenhardt solar-battery facility in the Northern Cape.

Rich copper intercept in N Cape sends Orion’s shares soaring on Australian exchange

Published: 22 Apr 24

The richness of South Africa’s copper assets were emphasised on Monday when Northern Cape mine developer and explorer Orion Minerals published a standout intercept that sent its shares rocketing up 58% on the Australian Stock Exchange (ASX). Orion, headed by CEO Errol Smart, is primarily listed on the ASX, where it has 1 300 shareholders, and secondarily listed on the Johannesburg Stock Exchange (JSE), where it has 28 000 shareholders.

Merafe reports 26% y/y decrease in first-quarter ferrochrome production

Published: 22 Apr 24

JSE-listed Merafe has reported that its attributable ferrochrome production from the Glencore Merafe Chrome Venture in the first quarter ended March 31 was 77 000 t. This represents a 26% decrease from the 103 000 t produced in the first quarter of 2023.

Zambian claimants get permission to appeal class action lawsuit against Anglo American

Published: 22 Apr 24

The Johannesburg High Court on April 19 granted permission to appeal an earlier ruling denying class action certification for 140 000 women and children in Kabwe, Zambia, who allege they have suffered the effects of lead poisoning as a result of a mine formerly owned by Anglo American in the country. In granting permission, Justice Leonie Wendell found that an appeal against her earlier judgment had “reasonable prospects of success on at least one ground of appeal” and that there were “compelling reasons to grant the appeal, as class action law is still being developed in South Africa”, and that “there are current matters of law of public importance which directly implicate constitutional rights”.

South32 reports improved operating results for March quarter

Published: 22 Apr 24

Diversified miner South32 has reported an overall improvement in its operating results for the March quarter and record year-to-date production at Hillside Aluminium, in KwaZulu-Natal, and South Africa Manganese, in the Northern Cape, along with a 60% increase in quarterly volumes at Illawarra Metallurgical Coal, in Australia. The group confirmed that its operating unit cost guidance for the 2024 financial year will remain unchanged, with the exception of the group’s Australia Manganese operations, which were affected by the impacts of tropical cyclone Megan.